TK Maxx is coming to Gloucester and is set to replace the Eastgate Market.
A plan is afoot to the move the market, possibly to the upstairs food court at The Eastgate shopping centre, to make way for the popular national brand.
The store would be open before Christmas 2014.
Gloucester City Council are preparing a plan to move the market but some traders are thought to be unhappy about the plan to be moved upstairs fearing there will be a drop in trade.
The market has been at its current home for some 45 years.
Council leaders are meeting traders on Wednesday.
City council leader Paul James told the Gloucester Citizen: "I can confirm that we have received a proposal for development of the Indoor Market site which we are considering, but no decision has been taken.
"We are absolutely committed to maintaining an indoor market in Gloucester as an important part of the city's retail offer.
"The current building is in fairly poor condition and will need significant and expensive repairs over the next year or so. Whether the proposal can be progressed will depend on finding an acceptable new location for the indoor market.
"We will be meeting representatives of the market traders on Wednesday to explain the proposals in more detail and listen to their views."
TK Maxx's arrival at The Eastgate will bring to an end months of speculation about their interest is opening in the city, having initially wanted to move into the former Marks and Spencer, in Northgate Street, a plan which fell through in April.
They have yet to comment on today's announcement although the Citizen understands they are in the process of signing a contract.
Charlotte Jarrett, deputy centre manager, said that they 'could not comment on any possible retailer coming into the scheme in the foreseeable future'.
But she added: "Rockspring, the Landord of the shopping centre are in talks with the city council and are considering proposals. No plans at the moment are confirmed and we, like the city council, are committed to keeping an indoor market in the city."